MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

4:00 PM EST

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To: bobby beara who wrote (28606)	10/6/1999 7:51:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Bobby, perhaps that's necessary...but consider that under 50 is not normal at all, it's the extreme of extremes. and call open interest is near record highs anyway... look at the a/d line, it barely got off the mat...the rally is even narrower than its immediate predecessors. my guess is we may have some more upside left into expiration, IF the bond at the very least stays where it is. thereafter we could reverse quickly. also i'm asking myself why IBM is so weak...it may not mean much, but then again it may. remember in '87 (sorry!), IBM also began to correct while many other techs (the speculative stuff back then) kept running to new highs. then again one shouldn't underestimate the mania...<ggg> regards, hb

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